TC Energy Co. (NYSE:TRP) is Nicola Wealth Management LTD.'s 5th Largest Position

Nicola Wealth Management LTD. decreased its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 555,796 shares of the pipeline company's stock after selling 10,800 shares during the quarter. TC Energy comprises about 2.4% of Nicola Wealth Management LTD.'s investment portfolio, making the stock its 5th largest position. Nicola Wealth Management LTD. owned about 0.05% of TC Energy worth $26,428,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in TC Energy during the 3rd quarter worth about $28,000. Blue Trust Inc. increased its holdings in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock worth $28,000 after purchasing an additional 429 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of TC Energy in the second quarter valued at about $33,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.8 %

Shares of TRP stock traded up $0.40 during trading hours on Thursday, hitting $48.84. 2,212,241 shares of the company were exchanged, compared to its average volume of 3,090,301. The business's 50-day simple moving average is $46.78 and its two-hundred day simple moving average is $42.59. TC Energy Co. has a one year low of $31.83 and a one year high of $50.22. The stock has a market capitalization of $50.69 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 4.06 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. Sell-side analysts predict that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.73%. TC Energy's dividend payout ratio (DPR) is 78.95%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Finally, StockNews.com began coverage on TC Energy in a research note on Saturday, October 5th. They set a "hold" rating for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, TC Energy presently has an average rating of "Hold" and an average price target of $48.50.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.